Loan Amount Calculator
This Loan Amount Calculator helps you determine the maximum loan amount you can afford based on your desired monthly payment, loan term, and interest rate.
Loan Principal Calculation Tool
Loan Amount Calculation Formula
\[
\text{Loan Amount} = \frac{P \times (1 – (1 + r)^{-n})}{r}
\]
Where:
- $$P$$ = Desired monthly payment
- $$r$$ = Monthly interest rate (annual rate divided by 12)
- $$n$$ = Total number of monthly payments
- $$Loan Amount$$ = Principal amount you can borrow
The Loan Amount Calculator helps borrowers estimate how much principal they can afford to borrow based on their expected monthly payment and loan terms. It’s ideal for planning mortgages, car loans, and personal loans before applying for financing.